Franklin Templeton UK equity veteran Spencer to retire

Departure sees reshuffle on three funds

Vice president, portfolio manager and research analyst in Franklin Templeton’s £4.5bn AUM UK equity team Paul Spencer will retire at the end of September this year after 14 years with the firm and 33 years in finance, Investment Week can reveal.

Spencer will retain management duties for the £1.2bn AUM FTF-Franklin UK Mid Cap fund until 30 June and remain engaged with the strategy until his departure. He will step down from his role as co-lead of the FTF-Franklin UK Managers' Focus fund as of 30 June and UK Smaller Companies funds as of 31 January. Are these the best 'all-rounder' UK funds for income investors? Investors were told this morning (7 January) that vice president, portfolio manager and research analyst in the Franklin UK Equity Team Richard Bullas will assume co-lead lead portfolio manager responsibilities for Fran...